In a monumental shift towards sustainability, California, one of the world’s top economies, is making significant strides towards running on 100% renewable energy. While the state aims to achieve this milestone by 2045, recent data has shown that it is already surpassing its clean power goals during certain hours of the day.
The California Independent System Operator (ISO), responsible for managing a substantial portion of the state’s power supply, reported that in recent weeks, renewable sources such as wind, water, and solar have exceeded the total energy demand for up to six hours daily. This remarkable feat underscores California’s progress in embracing sustainable energy alternatives.
Highlighting this renewable energy breakthrough, Stanford professor Mark Z. Jacobson shared data indicating that renewable sources outpaced demand for prolonged periods during the daytime, leveraging optimal solar generation and reduced power consumption.
While renewable energy accounted for approximately 70% of California’s power supply on average, nighttime reliance on wind-water-solar sources reached a commendable 50%. The remaining power needs were met by sources such as natural gas and nuclear energy.
This achievement is not isolated to California alone. In 2018, Germany set a precedent by covering its entire power grid with renewable energy for the first time. With a target of 100% renewable energy by 2035, Germany’s progressive energy policies serve as a blueprint for sustainable practices on a global scale.
Looking ahead, California’s commitment to clean energy has been solidified through legislation such as the Clean Energy, Jobs, and Affordability Act of 2022. This policy framework aims to transition the state to a grid powered by 100% renewable energy by 2045.
As the world embraces the clean energy revolution, companies like Clearway Energy, Inc. (CWEN) and solar industry leader First Solar Inc (FSLR) are positioned to drive innovation and sustainability in the power sector.
Despite recent fluctuations in the alternative energy sector, exchange-traded funds (ETFs) like the iShares Global Clean Energy ETF (ICLN) and Invesco Solar ETF (TAN) continue to play a pivotal role in supporting eco-friendly investments.
While challenges persist in the clean energy landscape, the collective efforts of industry leaders, policymakers, and investors are steering the global economy towards a greener and more sustainable future.